Turkiye reduced scrap imports by 12.7% y/y

Turkiye reduced scrap imports by 12.7% in January-November 2023 compared to the same period in 2022, to 17.1 million tons. This is reported by SteelRadar with reference to data from the Turkish Statistical Institute (TUIK).

In November 2023, the country imported 1.55 million tons of scrap, up 17.1% year-on-year and 3.8% m/m.

In the first 11 months of 2022, the largest volumes of scrap imports came to the country in March (2.34 million tons), the smallest – in September (1.067 million tons), in 2022, the largest volumes of imports of this raw material were in January.

In 2022, Turkiye reduced its imports of scrap by 16.5% compared to 2021, to 20.93 million tons. The decline in imports of this raw material to the country was due to low utilization of local steel mills in the second half of 2022.

As GMK Center reported earlier, steel enterprises of Turkiye in November 2023 increased production of steel by 2.4% compared to October – up to 3.04 million tons. Thus, the country’s steelmakers increased steel production to the maximum since May 2022. Compared to November 2022, steel output last November increased by 27.3%. In January-November, the country’s steel companies produced 30.49 million tons of steel, which is 6.1% less than in the same period of 2022.